Insurance Law Update
The Advocate reports on the results of the Legislature's efforts to decrease regulation of insurers in the state. The new law, which allows insurance companies to raise rates up to ten percent without commission approval, has resulted in companies issuing 141 rate reductions accounting for $38 million in savings to consumers. During the same time period, however, insurers also increased rates 372 times, for a total of $195 million , in rate increases. The reaction to the law's success is mixed.
Posted by AJR at March 14, 2005 08:06 AM